China's Chemspec International Reports Increase in Sales and Profits

5:14 AM MDT | August 13, 2010 | Natasha Alperowicz

Chemspec International (Shanghai), China's leading contract manufacturer of specialty chemicals, today reported its unaudited second quarter results. Net income attributable to Chemspec International shareholders rose by 10% to Rmb57.5 million ($8.5 million) compared with the second quarter of 2009, while income from operations was up 6% at Rmb69.6 million. Gross profit was up 4% at Rmb98.7 million. Chemspec's sales increased 15.4% to Rmb266.8 million. "After a very challenging period in the second half of 2009 and the start of 2010, we were able to...